Analyses

Daily News Summary 1/7

July 1, 2024 Tóth Balázs
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Sony Enters the Crypto Trading Sector

Amber Japan, a crypto venture owned by one of Japan’s largest technology companies, Sony Group, has rebranded itself as S.BLOX. The Tokyo-based company, acquired last year, is known for its WhaleFin crypto trading service. Plans involve collaborating with various Sony Group companies to further develop crypto trading services. The rebranding will include a redesigned user interface and a new, more user-friendly mobile application. The exact launch date for S.BLOX has not been announced.

Alibaba's Blockchain Business Sees Massive Growth

The blockchain division of Alibaba’s fintech subsidiary, Ant Group, recently amended its company registration with Chinese authorities, increasing its registered capital from 100 million yuan to 1.5 billion yuan (approximately $206.4 million). Despite China banning crypto transactions in September 2021, the country remains open to developing its blockchain technology and digital economies. Consequently, Chinese tech giants like Alibaba and Tencent are focusing on developing their consortium blockchains.

BingX Sponsorship at Chelsea

Crypto broker BingX has announced the extension of its partnership with Chelsea Football Club. Starting from the 2024/25 Premier League season, BingX will transition from being the club’s sleeve partner to the official training wear partner for the men’s team. The BingX branding will be prominently displayed on the front of the training wear, worn by both the players and the coaching staff during all training sessions.

Gemini Signs Five-Year Sponsorship Deal with Real Bedford

Gemini, the crypto broker founded by Tyler and Cameron Winklevoss, has signed a five-year sponsorship agreement with Real Bedford Football Club, co-owned by Peter McCormack. This sponsorship complements the $4.5 million investment made by Winklevoss Capital in the club this past April. As part of the deal, payments will be made in Bitcoin, aiming to support the club’s success and improve opportunities for local children.

USDC Becomes the First Approved Stablecoin in the EU

Stablecoin issuer Circle has announced that it has received an Electronic Money Institution (EMI) license in the European Union, making it the first issuer to obtain such approval. Both its USDC and EURC stablecoins comply with the EU’s new MiCA regulations and will be officially available to European customers starting July 1st. Circle Mint France, a subsidiary of Circle, will issue the euro-denominated EURC and USDC in the EU, under the license granted by the French banking authority.

U.S. Marshals Service Chooses Coinbase Prime

The U.S. Marshals Service (USMS), the asset forfeiture agency of the U.S. Department of Justice, has announced its selection of Coinbase Prime to manage and trade its Class 1 high-value digital assets portfolio. Coinbase was chosen due to its extensive experience and capability in providing secure, institutional-level crypto services.
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